This Month At Dominium

Project Update for the Dominium Platform, Pre-ITO, ITO and Structural Developments

It has been a challenging summer for us at Dominium! Although we have had a lot of good news, we have also encountered some issues and overcome some hurdles. In the spirit of total transparency, we have shared a project update with the good and the bad.

The Dominium Pre-ITO

Going live with a pre-ITO on the 15th of August was perhaps not the best idea, given that many businesses are closed and some people are enjoying summer holidays! The decision to go ahead regardless gave us plenty of time to overcome the problems encountered, which included:

  1. System becoming slow
  2. Reservations and orders getting mixed up
  3. Translations not being done on time

All of these issues have now been resolved and the system is fast and fully up to date. It was also the worst day of the year in term of crypto values crashing, so all-in-all not the best time for a pre-ITO!

ITO Launch

Having learned from the pre-ITO, we none-the-less encountered some issues, such as:

  1. Order form was still calculated on €0.05
  2. Translations were not ready
  3. Updates made balances disappeared

Again these issues were resolved, and resolved quickly, but we are all too aware that they should not have happened in the first place. The ITO is now running steadily with DOM being purchased at a good rate, and we are proceeding with the roadmap as planned.

Purchase of Max Property Group

Even though the pre-ITO was slightly disappointing, we are going ahead with the steps as detailed in our roadmap. Dominium B.V. has started taking over the companies of Max Property Group, and the process is expected to be complete by the end of September, at which stage around €5M worth of assets (and potentially more as we keep buying property) will have been moved into Dominium B.V.

Childchain and Listing on Exchanges

We will soon release a joint press release with Jelurida where we will announce the date the Dominium childchain will go live and on which exchanges we will list the DOM token. Although there are no solid dates yet, we are confident that these significant development will be achieved by the end of this year, on schedule.

Users, Countries, Languages and Social Media

We have officially passed 36,000 users on the platform, from over 175 countries, and have translated into 19 languages. We consider this to be a great achievement after only a few months of being live! We also have more than 20,000 followers on our Telegram Chat channel, more than 13,000 on Twitter and more than 6,000 daily visitors on our website.

Structural Changes

Because of the aformentioned issues, we have decided to expand our team and we would like to officially welcome Mr. Erwin van Kekem as the Head of Development. Erwin has delivered various big software projects for international corporations and crowdfunding platforms and he will re-organise both the procedures and updates of the project to ensure these issues will not be repeated. Erwin has already implemented a strategy to have a team stress test the platform before updating the live version, so we will move from development to test and from test to live from now on.

We have also added Mr. Gustavo Rota to our team as our Investor Relations contact. Gustavo runs his own family office and is well connected in the investment world, from which he intends to bring some strategic investors onboard.

Unfortunately, we also had to say goodbye to a few team members, as some ambassadors had to go back to their studies, whilst others decided to concentrate on their own projects. We would like to thank Woshib for running the pre-ITO bounty campaign, Andres Campo for translating to Spanish and assisting with the running of the ambassador team, and various other ambassadors for their time on the project.

Do not forget to submit your KYC and pass Clearance Level 1, otherwise you will not be allowed to withdraw or trade DOM tokens, and do not forget to refer people to Dominium to earn commissions for their registrations and from their purchases/investments. More on the new commission structure here.